Detailed Single Year Tables

Description of Proposed Provision:
Apply OASDI payroll tax rate on earnings above $400,000 starting in 2015, and tax all earnings once the current-law taxable maximum exceeds $400,000. Credit the additional earnings for benefit purposes by: (a) calculating a second average indexed monthly earnings (AIME+) reflecting only earnings taxed above the current law taxable maximum, (b) applying a 2 percent factor on this newly computed AIME+ to develop a second component of the PIA, and (c) adding this second component to the current-law PIA.

&nbsp

Financial Estimates for the OASDI Trust Fund Program

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

&nbsp

Expressed as a percentage of present-law taxable payroll

Trust fund ratio as of January 1

Expressed as a percentage ofpresent-law taxable payroll

Calendaryear

Costrate

Incomerate

Annualbalance

Costrate

Incomerate

Annualbalance

2013

13.95

12.69

-1.26

330

0.00

0.00

0.00

2014

14.04

12.83

-1.20

315

0.00

0.00

0.00

2015

13.97

13.73

-0.24

301

0.00

0.86

0.86

2016

13.91

13.84

-0.07

292

0.00

0.96

0.96

2017

13.88

13.91

0.03

283

0.00

1.01

1.01

2018

13.91

13.98

0.07

276

0.00

1.05

1.05

2019

14.06

14.03

-0.03

270

0.00

1.08

1.08

2020

14.26

14.08

-0.18

264

0.00

1.11

1.11

2021

14.44

14.13

-0.32

257

0.00

1.14

1.13

2022

14.71

14.19

-0.52

250

0.00

1.16

1.16

2023

14.97

14.24

-0.73

242

0.00

1.20

1.20

2024

15.23

14.29

-0.94

234

0.00

1.23

1.23

2025

15.48

14.34

-1.14

225

0.00

1.27

1.27

2026

15.71

14.39

-1.32

217

0.00

1.30

1.30

2027

15.93

14.44

-1.49

208

0.00

1.34

1.34

2028

16.14

14.49

-1.65

199

0.00

1.38

1.38

2029

16.33

14.54

-1.79

189

0.00

1.42

1.42

2030

16.50

14.59

-1.90

179

0.00

1.46

1.46

2031

16.64

14.65

-1.99

169

0.00

1.50

1.50

2032

16.76

14.70

-2.06

159

0.00

1.55

1.55

2033

16.86

14.75

-2.11

148

0.00

1.60

1.59

2034

16.94

14.81

-2.13

137

0.01

1.65

1.64

2035

16.99

14.86

-2.13

126

0.01

1.70

1.69

2036

17.02

14.92

-2.10

115

0.01

1.75

1.74

2037

17.03

14.97

-2.06

104

0.01

1.80

1.80

2038

17.03

15.03

-1.99

94

0.01

1.86

1.85

2039

17.00

15.09

-1.91

83

0.01

1.92

1.91

2040

16.97

15.16

-1.82

74

0.01

1.99

1.98

2041

16.94

15.22

-1.72

64

0.01

2.05

2.04

2042

16.91

15.29

-1.61

55

0.01

2.12

2.11

2043

16.88

15.36

-1.51

47

0.01

2.19

2.18

2044

16.86

15.44

-1.41

39

0.01

2.27

2.26

2045

16.84

15.50

-1.34

31

0.01

2.33

2.32

2046

16.83

15.50

-1.33

24

0.01

2.33

2.32

2047

16.82

15.51

-1.32

16

0.01

2.34

2.32

2048

16.81

15.51

-1.30

9

0.02

2.34

2.32

2049

16.80

15.51

-1.29

1

0.02

2.34

2.32

2050

16.80

15.51

-1.29

----

0.02

2.34

2.32

2051

16.81

15.51

-1.30

----

0.02

2.34

2.32

2052

16.83

15.52

-1.31

----

0.02

2.34

2.32

2053

16.86

15.52

-1.34

----

0.02

2.34

2.32

2054

16.89

15.52

-1.37

----

0.02

2.34

2.32

2055

16.93

15.53

-1.41

----

0.02

2.35

2.32

2056

16.98

15.53

-1.45

----

0.02

2.35

2.32

2057

17.03

15.54

-1.49

----

0.02

2.35

2.33

2058

17.07

15.54

-1.53

----

0.02

2.35

2.33

2059

17.12

15.54

-1.58

----

0.03

2.35

2.33

2060

17.17

15.55

-1.62

----

0.03

2.35

2.33

2061

17.21

15.55

-1.66

----

0.03

2.35

2.33

2062

17.25

15.56

-1.70

----

0.03

2.36

2.33

2063

17.30

15.56

-1.74

----

0.03

2.36

2.33

2064

17.34

15.56

-1.78

----

0.03

2.36

2.33

2065

17.39

15.57

-1.82

----

0.03

2.36

2.33

2066

17.43

15.57

-1.86

----

0.03

2.36

2.33

2067

17.48

15.58

-1.90

----

0.03

2.36

2.33

2068

17.53

15.58

-1.95

----

0.03

2.36

2.33

2069

17.57

15.58

-1.99

----

0.03

2.37

2.33

2070

17.62

15.59

-2.03

----

0.03

2.37

2.33

2071

17.66

15.59

-2.07

----

0.03

2.37

2.33

2072

17.69

15.60

-2.09

----

0.03

2.37

2.34

2073

17.72

15.60

-2.12

----

0.03

2.37

2.34

2074

17.74

15.60

-2.14

----

0.04

2.37

2.34

2075

17.76

15.60

-2.15

----

0.04

2.37

2.34

2076

17.77

15.61

-2.16

----

0.04

2.38

2.34

2077

17.77

15.61

-2.16

----

0.04

2.38

2.34

2078

17.78

15.61

-2.17

----

0.04

2.38

2.34

2079

17.79

15.61

-2.17

----

0.04

2.38

2.34

2080

17.80

15.61

-2.18

----

0.04

2.38

2.34

2081

17.81

15.62

-2.20

----

0.04

2.38

2.34

2082

17.84

15.62

-2.22

----

0.04

2.38

2.35

2083

17.87

15.62

-2.25

----

0.04

2.39

2.35

2084

17.91

15.63

-2.29

----

0.04

2.39

2.35

2085

17.95

15.63

-2.33

----

0.04

2.39

2.35

2086

18.00

15.63

-2.37

----

0.04

2.39

2.35

2087

18.06

15.64

-2.42

----

0.04

2.39

2.35

2088

18.11

15.64

-2.47

----

0.04

2.39

2.35

&nbsp

Summarized Estimates

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

Years

Costrate

Incomerate

Actuarialbalance

Year of reserve depletion1

Costrate

Incomerate

Actuarialbalance

Based on Intermediate Assumptions of the 2013 Trustees Report.

2013-2087

16.61%

15.72%

-0.89%

2049

0.02%

1.84%

1.83%

&nbsp

1 Under present law, the year of Trust
Fund reserve depletion is 2033.